H2O Retailing's department-store profit hits a Q1 record as Umeda flagships draw luxury spending
H2O Retailing's department-store segment posted record April-June operating profit as renovated Umeda flagships pulled in inbound and high-net-worth spending — even as the group's headline 158% net-profit jump owed roughly half its size to a one-off sale of Toho shares.
H2O Retailing, the Osaka-based parent of Hankyu Hanshin department stores, said its department-store division posted its best April–June operating profit on record, with segment sales up 12.3% and operating profit up 66.9% year on year.